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German producer prices rise in April

Annual producer prices in Germany grew more than expected in April as price indexes of all main industrial groups increased, data from the Federal Statistical Office showed.

The producer price index rose 2.0% in April, faster than March's 1.9% increase and above Econoday's consensus estimate of 1.8%.

Energy prices rose 3.2% from a year earlier, while intermediate goods prices went up 2.1%. Prices of nondurable consumer goods rose 1.1%, and those of durable consumer goods edged up 1.5%. Prices of capital goods grew 1.2%.

Excluding energy, producer prices were up 1.6% year over year in April.

In monthly terms, the overall index rose 0.5% in April after edging up 0.1% in the prior month.